Cruise.co.uk docks with new private equity owner in £52 million deal

Bridgepoint has cost some £52 million for the switch of majority stake in the UK-based cruise online travel agency Cruise.co.uk from private equity company Risk Capital.

Cruise.co.uk has a new backer in the form of Bridgepoint Development Capital, after three years with fellow private equity company Risk Capital.

The switch of the majority stake in the UK-based cruise online travel agency has cost Bridgepoint some £52 million.

The amount of equity changing hands was not disclosed, although Bridgepoint confirms the company’s management will retain a stake.

Alongside search and booking capability for users with leading cruise operators, Cruise.co.uk has a sizeable reviewing platform with more than 110,000 members that account for 17 million web visits a year.

Rival cruise review platform, TripAdvisor-owned CruiseCritic, boasts more than five million visits a month.

The sale has given Risk Capital a decent windfall on its investment in August 2013 – that deal was understood to be in the region of £15 million at the time.

Since the 2013 deal, Cruise.co.uk has seen its turnover increase to £104.5 million, a climb of 15% on the previous year.